1238 Diamond Ave NEGrand RapidsMI49505
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Grand Rapids at 1238 Diamond Ave NE, Grand Rapids, MI, 49505 generates $1,406/mo in rent and, after a $881/mo payment, leaves $219/mo in cash flow. Total monthly income is $1,406/mo, and annual cash flow is $2,630/yr on $59,637 invested. Return on cash invested sits at 24.32% in year one, and rental yield is 9.38% on a $179,900 entry. Equity gained on principal adds $1,161/yr, while 5% annual appreciation builds toward $49,703 over five years. Five-year ROI reaches 127.08% and total cumulative return in cash sums $75,789. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,406/mo property income rather than buyer’s personal income.
Single Family
Built in 1924
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49505, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,709 (100%) |
| Owner Occupied HU | 9,483 (64.5%) |
| Renter Occupied HU | 4,578 (31.1%) |
| Vacant Housing Units | 648 ( 4.4%) |
| Median Home Value | $281,170 |
| Average Home Value | $311,704 |
Housing Distribution
Address Breakdown
Residential
13,974
Single Family
12,607
Multi-Family
1,367
Businesses
593
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Alexis M Hite • Lighthouse Property Management
Mls Name: MichRIC
Mls ID: #25045562